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description=An in-depth look at the Nouveau Riche Opportunity;

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nouveau, riche, is, scam, are, may, 12, 2009, february, 2008, december, 2007, recent, posts, tags, blog, stats, disclaimer, or, mlm, the, investor, concierge, deals, any, good, tuition, they, overpriced,

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quired to be successful and to get a return on my investment however after seeing a small sample of the practical how to steps they taught for free in those 2 classes i would feel comfortable investing my money in their education if i was ready to take the steps and spend the time to become a full time real estate investor i am a firm believer in self educating oneself through free sources first then paying for live education when one has progressed somewhat through that medium for practical real world application though there is no better way to learn than through a successful mentor who can give you shortcuts and tips that is why on the job training works for so many professions imagine learning to fix a car by only reading books honestly though every post i see on the internet so far that is bashing nouveau riche seems to be from someone who has not been through their school in fact i ve come across some full of people who confuse criticism with intelligence and seem to have nothing better to do than hang out on blogs and take potshots if they were truly successful they would not have this amount of time on their hands and please point out any company that is perfectly run and never makes mistakes or missteps i ve read about several people that obviously had been though nouveau riche classes and all are very positive that in itself says a lot as far as the cost of their school cost is only relative to return on investment there are no guarantees in life except one your chance of success at anything is relative to your own action inaction if someone does a couple of deals they should at least break even if they give up before then then yes they wasted their money many people like me are not at a point where paying for this type of education is a good idea that does not mean that it is not a good idea for others as far as the real estate market goes it is a volatile and changing thing it is not for the weak hearted or those afraid to step up and take a risk that is why when the deals fall into place the money can be so good i read that next year they are expecting double the foreclosures of this year that means a lot of wholesale houses on the market and a lot of renters on the street that probably cannot qualify for many traditional corporate owned apartment complexes for people willing to deal with the details and headaches of the market there is money to be made reviewer unknown not affiliated with nouveau riche i went to nouveau riche for a real estate investing education about 4 years ago after trying a lot of the tv guru programs the education and community helped me to become a full time real estate investor the 7 investment properties i currently own certainly are not a scam and neither is nouveau riche the independent sales associates that sell the education and like all sales reps you have some honest representatives and some who stretch the truth if you really want to learn real estate investing and you want to learn through nouveau riche then just make sure if you enroll with anyone at nouveau riche that the person is a full time real estate investor or at least a successful part time investor for those who say the nouveau riche real estate investing education is a scam i would make the suggestion to not knock something you have not tried because you have not had success my comments are to the broader point of the mindset as a business opportunity nouveau riche has been featured in many publications in a very positive light including success magazine i believe the june issue and success from home magazine google searches do reveal some negative posts but those posts are out numbered by a large margin by positive experiences doesn t that tell you that the variable is the individual the success is really up to the person calling people scam artists or any of the other derogatory names you have spewed does nothing to advance your theory the real deal nouveau riche is the real deal has been heard over and over again overall the nouveau riche real estate investment college provides the tools motivation and support that will get you on the road to successful real estate investing make the decision today to start enjoying the financial freedom that comes with a profitable real estate investment portfolio comments off on is nouveau riche a scam or mlm february 1 2008 are the investor concierge deals any good filed under investor concierge deals nouvea riche nouveau riche college newrich 1 48 pm tags blogs business define nouveau riche direct sales education investing investor concierge investor concierge fraud investor concierge nouveau riche investor concierge real estate investor concierge review investor concierge service jim piccolo nouveau riche nouveau riche college nouveau riche complaints nouveau riche corporation nouveau riche definition nouveau riche fraud nouveau riche good nouveau riche intensive nouveau riche investor concierge nouveau riche mlm nouveau riche provides nouveau riche real estate nouveau riche review nouveau riche rip off nouveau riche scam nouveau riches opinion opportunity personal real estate reviews the investor concierge thoughts what is the investor concierge in a nutshell the investor concierge is a private website for the nouveau riche community members offering real estate investment deals with supposed positive cash flow these deals are found by franchises called the real market experts and are fixed up and placed on the investor concierge website each deal gets its own page filled with pictures numbers and a breakdown analysis of how they arrived at the positive cash flow figure let s take a deeper look at the investor concierge to see if the deals are really any good if you are like me then you might have read other blogs that have made assumptions and claims saying the deals were overpriced used interest only loans and after the subsidies had expired that the deal will no longer cashflow probably the most popular blog promoting these claims is nouveauscam blogspot com read quotations below so let s break apart nouveau scam s article about the investor concierge to see how close he she truly is with their claims upon closer examination the flaws in the deal begin to surface that 2400 a year in annual pre tax cash flow is only 200 per month and doesn t include any maintenance or allowance for any vacancy of the property as long as you don t have any big maintenance needs you might possibly break even and all the while you re building equity while your tenants pay the mortgage right he she is correct that the investor concierge deals did not include any vacancy or maintenance factors in their listings most real estate investors usually factor in 5 10 for vacancy maintenance depending on their specific strategy without an official company statement on this it would be difficult to know for sure but the obvious factor that stood out to me was that many of the properties were newly built homes with a recommended strategy of a lease option lease with option to purchase tenant in this scenario the maintenance fees can be significantly lower because the home is new construction and a lease option tenant contract often passes on the repairs and maintenance to the tenant rather than the landlord the flipside is if the house is older and the investor chooses a traditional renter rather than a lease option tenant then there would be a greater need to factor in maintenance and vacancy summary it makes sense that the investor concierge does not factor in vacancy and maintenance because the investment strategy of choice on many of the properties is a lease option tenant that covers those costs perhaps in the future the investor concierge can feature a calculator right on their deals that allows users to factor in percentages based on their investment strategy wrong the deal nouveau riche shows to you invariably is built around an interest only mortgage you won t build any equity at all for the first 10 years after which your mortgage payment will jump up to a much higher amount if the deals were structured with conventional principle and interest loans none of these deals would have any positive cash flow at all now this is where i started to question this person s credibility and motives this paragraph starts making an overall assumption that every deal on the investor concierge is the same and the writer illustrates his lack of mortgage knowledge a quick search on the investor concierge pulled up several deals that did not fit in the claim above in fact i wonder if the writer just totally made it up first of all it is a never ending debate in itself to decide which type of mortgage is right for which type of deal i have had very successful investors all arguing this exact topic in a room and none of them could agree on it a more conservative investor will choose the approach of a 15 or 30 year fixed loan with a large cash down payment and a goal to own the home free and clear in the shortest time frame possible a more aggressive investor will choose a leveraged approach where they strip the home of its equity when possible and reinvest into more properties to build a bigger portfolio regardless of your preferred investing strategy i think it is safe to say that every deal is unique and there is not one magic mortgage product to fit everyone s needs so let s address the writer s specific claim that all the deals used interest only loans did they no i am curious how the writer even came to that conclusion each deal featured on the investor concierge had an example loan that the borrower could potentially get if they met the example requirements credit score doc requirement reserve requirement debt to income ratio the example loan types would vary on each deal that i looked at thus proving that not every deal used an interest only loan but i decided to take it one step further i called my loan officer and had her run a few scenarios for me on a potential deal to see if it would still cashflow i had a 720 credit score full doc enough reserves a reasonable debt to income ratio and a 10 down payment i factored in an additional 5 for vacancy and maintenance and i also factored in closing costs and a tenant placement fee into the down payment since the property would need a tenant i gave her 3 different types of loan scenarios neg am loan interest only loan 30yr fixed loan all three loans got me positive cashflow so i had her run two more properties to get a more rounded perspective and sure enough one of the other two deals would not cashflow in my specific situation with a 30yr fixed loan she said if my credit score was higher i would be able to get a better interest rate and would cashflow summary the writer made a very bold accusation and was proven wrong not every deal is an interest only loan and it is up to the investor to choose a loan product that is right for them they have the freedom to use their own loan officer or they can go through a mortgage company that is partnered with nouveau riche the other accusation was that the deals would not cash flow with traditional principle and interest loans but in fact there was positive cash flow in two of the three scenarios that i ran basically each deal on the investor concierge is unique and is an example only it is up to the investor to determine a loan product and run their own numbers but i still have instant equity right probably not the estimated market value is not an appraisal but rather just someone s guess at what the property might be worth and if it is worth that why isn t it being sold for that can you really buy these properties and immediately sell them for 10 more i doubt it at this point i think it is pretty obvious that the writer has gone beyond logic and turned to uneducated opinion i spent 15 minutes searching through deals trying to find at least one that met the description above and i couldn t 100 of the deals that i viewed including deals visible in the guest view all had documentation of the estimated market value now we all know that nobody can ever claim to know the market value of real estate for sure which is why the investor concierge clearly claimed an estimated market value what i found interesting was that the writer suggested that the investor concierge would just guess the market value and that they didn t use appraisals the majority of the deals that i viewed documentation for showed comps by a licensed real estate agent comparable real estate deals recently sold a few of the deals offered a bpo real estate broker price opinion to determine market value and 2 of the deals used real estate appraisals so what on earth was this writer talking about are comps bpo s and real estate appraisals considered valid of course there is not one successful real estate investor that i personally know that would argue that however depending on how skeptical cautious you are on your deals you may want to analyze the potential market value from several angles but again now we are talking about individual real estate investing strategy rather than the specific claims by the author of the investor concierge article he she was clearly false in their claims and any novice researcher would have easily proven that okay but the market will go up and i ll be rich if the market continues to skyrocket it s true you will be rich but across the country in nearly every housing market this is not what is happening the correction has begun the real estate bubble will deflate and then likely stay constant for a while all the while you ll be paying interest only on a property that is slowly becoming worth less than your loan is for a loan you have to pay off if you want to sell this writer holds a strong personal opinion of the national real estate market and it s future given the author s track record so far with their investigation of the investor concierge i really only took this paragraph with a grain of salt there is not much need to debate this paragraph but this writer has obviously shown that they feel real estate is a bad investment right now i wonder what investment strategy they would recommend mutual funds play the stock market personal savings account in a bank a safe at home full of money of course there is risk with any investment and there is also reward generally the greater the risk the greater the reward i have had the privilege of networking with many successful investors and every single one of them is in favor of investing in real estate one of the main benefits of positive cash flow is that it allows you to ride the up and down waves of appreciation without as many stressful moments it is people who purchase on speculation alone that are hit the hardest if the market turns on them with a lease option tenant there is already a set purchase price that they are agreeing to purchase the property for if they do not purchase the property then you can keep the lease option fee and lease the house back to them again for...